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COMPANY REGISTRATION NUMBER: 02739492
THE SILVERMAN GROUP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2023
THE SILVERMAN GROUP LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
THE SILVERMAN GROUP LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Dr V Freir
Mr P Lattimore
Mr G Silverman
Ms E Mcbride
Mr F Freir
Registered office
Lynton House
7 - 12 Tavistock Square
London
WC1H9BQ
Accountants
BSG Valentine (UK) LLP
Chartered Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
Bankers
Bank of Scotland
St James's Gate
14-16 Cockspur Street
London
SW1Y 5BL
THE SILVERMAN GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
6,499
6,499
CURRENT ASSETS
Debtors
5
2,086,090
2,086,090
Cash at bank and in hand
559
644
------------
------------
2,086,649
2,086,734
CREDITORS: amounts falling due within one year
6
( 1,288,681)
( 1,251,181)
------------
------------
NET CURRENT ASSETS
797,968
835,553
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
804,467
842,052
---------
---------
NET ASSETS
804,467
842,052
---------
---------
CAPITAL AND RESERVES
Called up share capital
5,552
5,552
Profit and loss account
798,915
836,500
---------
---------
SHAREHOLDERS FUNDS
804,467
842,052
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
Mr P Lattimore
Director
Company registration number: 02739492
THE SILVERMAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is Lynton House, 7 - 12 Tavistock Square, London, WC1H9BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
6,499
-------
Impairment
At 1 July 2022 and 30 June 2023
-------
Carrying amount
At 30 June 2023
6,499
-------
At 30 June 2022
6,499
-------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,024,186
2,024,186
Other debtors
61,904
61,904
------------
------------
2,086,090
2,086,090
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,253,515
1,216,015
Other creditors
6,458
6,458
Other creditors
28,708
28,708
------------
------------
1,288,681
1,251,181
------------
------------
Securities held with the bank are as follows: A debenture dated 16 February 2004, and a cross guarantee between all group company's dated 16 February 2004.
7. Directors' advances, credits and guarantees
At the balance sheet date £83 was owing by the company to the directors.